VeriSign, Inc. $VRSN Shares Sold by Raiffeisen Bank International AG

Raiffeisen Bank International AG lessened its holdings in shares of VeriSign, Inc. (NASDAQ:VRSN) by 18.8% in the third quarter, Holdings Channel.com reports. The institutional investor owned 34,180 shares of the information services provider’s stock after selling 7,922 shares during the quarter. Raiffeisen Bank International AG’s holdings in VeriSign were worth $9,718,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Salomon & Ludwin LLC lifted its holdings in shares of VeriSign by 112.5% in the 3rd quarter. Salomon & Ludwin LLC now owns 102 shares of the information services provider’s stock worth $28,000 after purchasing an additional 54 shares during the last quarter. Root Financial Partners LLC bought a new position in shares of VeriSign during the third quarter worth about $29,000. North Capital Inc. grew its position in shares of VeriSign by 239.0% during the third quarter. North Capital Inc. now owns 139 shares of the information services provider’s stock worth $39,000 after acquiring an additional 98 shares during the last quarter. Bruce G. Allen Investments LLC increased its holdings in shares of VeriSign by 51.5% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 147 shares of the information services provider’s stock worth $41,000 after acquiring an additional 50 shares during the period. Finally, Advisors Asset Management Inc. lifted its position in VeriSign by 25.3% in the 1st quarter. Advisors Asset Management Inc. now owns 198 shares of the information services provider’s stock valued at $50,000 after purchasing an additional 40 shares during the last quarter. 92.90% of the stock is currently owned by institutional investors and hedge funds.

VeriSign Stock Performance

Shares of NASDAQ VRSN opened at $215.91 on Friday. VeriSign, Inc. has a 1 year low of $208.86 and a 1 year high of $310.60. The firm has a market cap of $19.80 billion, a P/E ratio of 24.51 and a beta of 0.75. The stock has a fifty day moving average price of $240.15 and a two-hundred day moving average price of $255.24.

VeriSign (NASDAQ:VRSN) last posted its quarterly earnings data on Thursday, February 5th. The information services provider reported $2.23 EPS for the quarter, missing analysts’ consensus estimates of $2.29 by ($0.06). VeriSign had a negative return on equity of 40.40% and a net margin of 49.84%.The firm had revenue of $425.30 million during the quarter, compared to the consensus estimate of $424.04 million. During the same period in the prior year, the firm posted $2.00 EPS. The firm’s quarterly revenue was up 7.6% on a year-over-year basis.

VeriSign Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Thursday, February 19th will be given a dividend of $0.81 per share. This represents a $3.24 dividend on an annualized basis and a dividend yield of 1.5%. This is a boost from VeriSign’s previous quarterly dividend of $0.77. The ex-dividend date of this dividend is Thursday, February 19th. VeriSign’s payout ratio is presently 36.78%.

Insider Buying and Selling at VeriSign

In related news, EVP Thomas C. Indelicarto sold 166 shares of VeriSign stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $219.24, for a total value of $36,393.84. Following the transaction, the executive vice president owned 42,023 shares of the company’s stock, valued at approximately $9,213,122.52. This trade represents a 0.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO D James Bidzos sold 2,000 shares of the business’s stock in a transaction dated Wednesday, January 14th. The stock was sold at an average price of $248.28, for a total value of $496,560.00. Following the sale, the chief executive officer owned 414,099 shares in the company, valued at approximately $102,812,499.72. The trade was a 0.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 23,662 shares of company stock valued at $5,799,697. 0.84% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have commented on VRSN shares. Citigroup decreased their target price on shares of VeriSign from $337.00 to $280.00 and set a “buy” rating for the company in a research report on Monday, February 9th. Weiss Ratings reissued a “hold (c+)” rating on shares of VeriSign in a report on Monday, December 29th. JPMorgan Chase & Co. lifted their target price on VeriSign from $270.00 to $271.00 and gave the company a “neutral” rating in a research note on Tuesday, January 6th. Robert W. Baird set a $325.00 price target on VeriSign in a research note on Friday, October 24th. Finally, Zacks Research upgraded shares of VeriSign from a “strong sell” rating to a “hold” rating in a research note on Monday, February 9th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $292.00.

VeriSign Profile

VeriSign, Inc (NASDAQ: VRSN) is an internet infrastructure company that operates critical components of the global Domain Name System (DNS) and provides cybersecurity-related services. The company is best known as the authoritative registry operator for the .com and .net top-level domains, maintaining the central databases and zone files that enable domain name resolution for millions of websites. VeriSign’s registry role is performed under contractual agreements with Internet Corporation for Assigned Names and Numbers (ICANN) and involves high-availability, highly secure operations to support continuous internet connectivity.

In addition to its registry business, VeriSign offers a suite of services designed to protect and accelerate DNS and internet traffic for enterprises and service providers.